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Sunday 19.05.2019 | Name days: Sibilla, Teika, Lita

Association: most non-banking lenders will disappear from Latvia’s market next year

Most non-banking lending companies in Latvia will have been liquidated by the end of next year or beginning of 2020. This means short-term loans will no longer be available to residents, predicts Alternative Financial Services Association of Latvia.

Week in Lithuania. Watchdog: Simpsons might have negative effect on minors

The Radio and Television Commission (RTCL) of Lithuania believes the popular American sitcom, The Simpsons, might be having negative impact on minors, thus, should be shown after 9 p.m. According to the watchdog, certain scenes involving the use of alcohol, polygamy promotion, and talks about sexual intercourse, could be detrimental to minors. The RTCL has asked the TV3 channel airing The Simpsons to provide explanations.

U.S. widens Russia sanctions over election interference

Washington has introduced new targeted sanctions against Russian citizens, putting them on its blacklist of individuals allegedly involved in a Kremlin-backed campaign to meddle with the 2016 U.S. presidential election and other malign activities.

Ten Danske Bank suspects arrested by Estonia, more arrests likely

In the criminal investigation into alleged money laundering via the Estonian branch of Danske Bank, Estonian authorities have arrested 10 former employees as suspects.

Danske money laundering scandal in Estonia continues with eight arrests

As the Estonian Office of the Prosecutor General is investigating money laundering in the billions of euros at the Estonian branch of Danske Bank between 2007 and 2015, eight people have been arrested, ERR and Postimees daily report.

Orkla Confectionery & Snacks Latvija invests EUR 53,000 in biscuit production plant

Chocolate and confectioneries production company Orkla Confectionery & Snacks Latvija has invested more than EUR 53,000 in modernization of a biscuit and waffle production plant located on Artilērijas Street. Additional funding has allowed the company to install a powder sugar dosing pot.

Companies fined 33,268 euros for distorting competition in public procurements

Latvia’s Competition Council has discovered illegal coordination of activities between SIA Tomega and SIA BTK.LV on multiple occasions. The council has decided to fine SIA Tomega EUR 33,268 for intentionally distorting competition in public procurement procedures.

VNT: overall situation in the Latvian transit sector is extremely dire

VNT has experienced 5% growth in last 11 months over the same period 2017 only as a result of its the strategic planning and significant improvements implemented over 2018.

Week in Lithuania. Prosecutors mull probe into Russia sanction violations

Lithuanian prosecutors announced this week they were mulling launching a pre-trial investigation in to the purchase by around ten companies of fertilizers from Russia's Minudobreniya, which allegedly violates the EU's sanctions against Russia.

Estonia raises minimum wage

The minimum monthly wage in Estonia has been approved at the level of 540 euros, which is an increase from 500 euros.

airBaltic to perform more flights between Riga and Liepaja

During a visit today in Liepaja CEO of Latvian airline airBaltic Martin Gauss announced that airBaltic will increase the number of domestic flights between Riga and Liepaja from three to five weekly as of summer season 2019.

EY: investments in crypto currency offers have largely failed

86% of 141 initial crypto currency offers presented last year have lost value over the course of the first eight months of this year. Additionally 30% of them have lost nearly all of their value, according to Initial Coin Offerings study by EY.

European Parliament ratifies EU-Japan Economic Partnership Agreement

On Wednesday, 12 December, gave green light for EU-Japan Economic Partnership Agreement, which is EU’s all-time largest mutual trade agreement.

Estonian hospital to make patients pay for uncancelled doctor appointments

In Estonia, Ida-Viru Central Hospital plans to introduce asking patients to pay for a scheduled specialist appointment, if the patient does to visit the doctor and has not notified the hospital in advance.

Week in Lithuania. President signs decrees on three ministers' dismissal

President Dalia Grybauskaite on Friday, December 7, signed decrees to accept the resignations of Jurgita Petrauskienė as education and science minister and Liana Ruokytė-Jonsson as culture minister and to dismiss Kęstutis Navickas from the post of environment minister.

Share of fast loans extended three and more times increases in Latvia

Lending volumes in the non-banking sector in Latvia continue growing in the first half-year of 2018 – the total loan portfolio of lenders’ had grown 7.11%, reaching EUR 655.82 million, by the end of June.

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